Vedanta-owned large-cap metals subsidiary fined over ₹10 lakh by BSE, NSE for THIS reason | Stock Market News
Source: Live Mint
Mining giant Vedanta-owned firm, Hindustan Zinc received an official penalty notice from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) over non-compliance of the number of independent directors on the firm’s board, according to an exchange filing.
“The Company has received a Notice from BSE Limited and National Stock Exchange of India Limited on March 17, 2025, imposing a fine for non-compliance with Regulation 17(1) of the SEBI Listing Regulations. This pertains to the Composition of the Board of Directors regarding the shortfall of Independent Directors,” said Hindustan Zinc in the exchange filing.
According to the filing data, BSE and NSE has charged the company ₹5,42,800 each which includes GST. Total amount of the penalty amounts to ₹10,85,600 or ₹10.85 lakh.
The company also mentioned that the company will not face an significant impact in its financial, operational, or other activities due to this monetary penalty.
Hindustan Zinc Share Price
Hindustan Zinc shares closed 0.30 per cent higher at ₹436.60 after Tuesday’s stock market session, compared to ₹435.30 at the previous market close. The announcement of the penalty notice was filed in the afternoon session of the Indian stock market.
The Vedanta-owned mining company shares hit its 52-week high at ₹807 on May 22, 2024, while the 52-week low level was at ₹289.50 on March 18, 2024, according to data collected from BSE.
Hindustan Zinc shares have given stock market investors more than 220 per cent returns in the last five years and nearly 48 per cent returns in the last one-year period. However, the shares are trading 1.72 per cent lower on a year-to-date (YTD) basis.
In the last one month period, the shares have gained 6.80 per cent on the Indian stock market.
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